Budget back for third electricity bill increase in just seven months
CONSUMER chiefs have branded a major energy supplier's third third price increase in just seven months as “terrible news”.
The north's third biggest supplier Budget Energy, which has 96,000 customers, revealed that it is slapping another 18 per cent on bills from Friday October 8.
That's on top of 3.9 per cent in March and 14.9 per cent in July - a combined hike of almost 37 per cent.
It's also the third utility this week to increase tariff after Click Energy added 16 per cent more to the 9 per cent increase which came in on September 1, and firmus energy upped gas bills by 35 per cent for customers in its Ten Towns area.
The typical Budget Energy customer with a credit meter will see their bill rise by around £129 a year, while customers with a keypad meter will see a yearly increase of about £128.
Peter McClenaghan at the Consumer Council said: “This is terrible news, coming comes hot on the heels of significant gas price rises by SSE Airtricity and firmus.
“This combined electricity and gas increase could result in some consumers having to find around an extra £300 to put towards annual energy costs.
“Clearly this will make household budgeting a challenge, especially for those consumers who are already experiencing financial pressures.”
He added: “We are aware this increase is due to the continuing rise of wholesale energy costs, but we must stress the importance of consumer protection and support during times of such price increases.
“We will be engaging with Budget Energy to ensure they have appropriate support in place to assist consumers in vulnerable situations.”